Preface:
The biggest fallacy in business transformation—one that nearly everyone falls into—is the assumption that transformation is a one-time event rather than an ongoing capability. Even before the strategy is fully stitched together, we jump into the implementation mode.
We forget that sustained change requires time, patience and a culture of constant experimentation and learning. Thinking of short-term wins, don’t always translate into long-term successes
The Trap of Speed
Leaders fall into the trap of speed when implementing change for a variety of reasons. There is the financial incentive of performance which places a disproportionate focus on short term wins. It is also about managing the perception that we are constantly making progress with every review. This in turn leads to a culture of showing quick wins, and the belief that faster = better.
Ignoring Mindset and Behavior
Mindset and behavior are typically ignored for two reasons a) leaders find it easy and convenient to focus on what is tangible and measurable – the more structural aspects of a transformation. They do this because it can be tracked, controlled and reported. b) The Human side of change is typically ignored because it is seen as fluffy, complex and messy. Secondly there is a general lack of understanding and capability to influence mindset and behaviors.
True cost of a failed transformation
Nearly two-thirds of change efforts fail. It means billions of dollars are literally not yielding the kind of returns one hoped for. In fact the true cost of a failed transformation goes far beyond money. When businesses don’t implement a change properly, it leads to erosion of leader’s trust. When this emotion turns into cynicism, it really starts to hurt the business. People resist or withdraw from future change initiatives which could be critical to business outcomes.
A better way to change
True transformation isn’t about just installing a new system or rolling out a new strategy or process. It is about creating the conditions where people think, act, and adapt differently. It is about reinforcing new behaviors through leadership role-modeling. It is about a process of experimentation, learning and adaptation. It is a journey, not a one-time event.
Srikanth is the founder of Vruddhi India, a management consulting firm focused on Change leadership practices. We specialize in guiding companies through the complexities of change in a way that is uniquely personal and customized. You can email me at srikanth.pv@vruddhiindia.com for more information.